Talk of Brexit housing market crash is overdone

Search AcumenSearch Acumen comments on today’s HMRC number of property transactions

Andy Sommerville, Director at Search Acumen, comments:

“Property transactions took a dip at the end of the summer as the property market cooled down in September. After a strong August, activity in UK housing has sunk back down to earth.

“Overall however, transaction figures prove that talk of a housing market crash at the hands of Brexit uncertainty is seemingly overdone. While London continues to suffer from a significant property market freeze, the housing market outside the capital continues to be active. People are ignoring the lack of clarity from the government and are instead pressing ahead with the business of buying and selling homes.

“Looking ahead to next week’s Budget, it would be surprising if the Chancellor didn’t continue his support for first-time buyers who have been a major engine that’s helped keep the UK’s housing market moving through 2018. The entire property sector is hoping for a helping hand to keep what momentum we do have going into 2019.”

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